secwatch.observer — SEC 8-K summary
======================================

Issuer:     Infinite Acquisition Corp. (—)
CIK:        0001862327
Form:       8-K
Filed at:   2023-08-23T23:59:59+00:00
Accession:  0001140361-23-041027
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.03, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Infinite Acquisition shareholders approve extension; sponsor offers up to $1.8M loan; 19.6M shares redeemed
--------------------------------------------------------------------------------

- Shareholders approved extension of business combination deadline to September 23, 2023, with up to 14 monthly optional extensions to November 23, 2024.
- Sponsor agreed to loan up to $1.8M via convertible note to fund trust account deposits for extensions; initial $120K drawn.
- Holders of 19,590,635 shares redeemed at ~$10.66/share, totaling ~$208.8M in redemptions.
- Note convertible into working capital warrants at $1.00 per warrant, terms identical to private placement warrants.
- Also approved conversion of Class B shares to Class A and removal of net tangible asset redemption limitation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1862327/000114036123041027/0001140361-23-041027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1862327/000114036123041027/brhc20057859_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-041027

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer